What does “equity” mean when it comes to real estate? Simply put, equity is the difference between your property’s market value and what you still owe on your mortgage.
For example, if your home is worth $500,000 and you owe $300,000, your equity is $200,000.
Building equity is one of the most powerful benefits of owning property—it grows as you pay down your mortgage or as your property value increases over time. Curious about how to use your equity or why it matters? Contact me today and let's chat!
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